MRV Engenharia, Brazil’s largest homebuilder, seeks a $200M deal with American AHS ResidentialSeptember 7, 2019
Leader in the low-income real estate market in Brazil, developer MRV Engenharia has decided it is time to go beyond “Minha Casa Minha Vida” and bet on the American market. The company is considering acquiring a 50 percent stake in AHS Residential, a company that operates in the multifamily real estate segment in the United States.
According to recent press reports, the negotiation is in its final stages, MRV will hold a shareholders meeting to vote on the proposal to invest between $220 million to $ 255 million.
AHS Residential’s chairman, Rubens Menin Texeira de Souza, founded the company in 2012, and he is also the founder of MRV Engenharia. The Brazilian company, founded in 1979, has developed and sold over 427,000 multifamily units in Brazil in 158 cities.
While AHS has currently three projects under development, with a total of 650 apartments scheduled for delivery in 2019, according to its website. The company focuses on workforce housing.
With the acquisition of the North American company, MRV will internationalize its operations. According to sources, the intention is to expand the business beyond Florida.
Picture: Rendering of AHS Residential project Village at Mangonia Lake.